We usually focus on production issues like getting good help, working with trade contractors, change orders, etc. In this episode, we change things up and tackle a more general business topic, running debt-free.
We are fortunate enough to have a returning guest join us for this discussion. Wally Staples was on Episode 72, talking about how he recruits employees. For this episode, however, Wally goes into detail about how he has established and run his company, Wally J Staples Builders, as a debt-free business.
Wally started his company in 1993 and worked in the field building new homes and completing renovations until 2001, when he then focused on growing and making the company better. Wally J Staples Builders has some employees that have been with the company for 10-20 years and has never laid anyone off in 25 + years for lack of work, one of the main benefits to running a debt-free company.
Tim, Steve and Wally start with how and why he established his business this way and went on cover more topics:
How and why he established his company this way
Clarification on what he considers a debt-free scenario
Benefits of the cash environment
Involving your team in the process
How an existing business transforms to debt-free
Tim wraps up the episode with his thoughts and experience in working with debt-free businesses, including his own, over the past 20+ years.
For the last decade (pre-COVID), the demand and lack of skilled labor may have slowed production and increased housing costs more than any other factor. This condition is not new to the U.S. housing industry; the nation faced similar conditions at the founding of the country, and the evolution of the U.S. education system and the building trades have contributed to our modern labor woes.
Is there a path that will lead us out of this? The answer
will depend on where the future of housing is going, which is any one’s guess
now. But, by exploring our past, we may be able to see more clearly what got us
here and help us avoid repeating past mistakes.
In this episode, Tim and Steve welcome Clayton DeKorne to the show to explore this topic further. Clayton is Chief Editor of the JLC Group for Hanley Wood, LLC. Clayton has been with JLC since it’s “early days” in 1988, joined Hanley Wood when JLC was acquired, and also was the founding education director for the JLC Live series of events held annually around the country.
Tim, Steve and Clayton address the skilled labor issue,
which includes:
The role technology plays in the future of our workforce.
How our colonial history can possibly transform the state of the industry today.
How income plays a role in how some choose a profession.
And more…
Get More From Tim Faller…
If you are not already subscribed, don’t miss Tim’s “From the Field” Monthly Newsletter. Tim shares his experiences from the road as he works with production teams across the US and Canada, gives you a glimpse behind the scenes as he scours the waters of New England for fish and lobster, and more. Don’t miss it; Click Here to Subscribe to “From the Field.”
Meeting the growing need for a qualified workforce in the remodeling and home building industries has evolved into seeing the ideal worker as coming from a range of backgrounds but with a common interest.
In this episode, Tim and Steve welcome Home Builders Institute (HBI) President and CEO, Ed Brady, who explains the breadth of programs offered and the evolution of services HBI is undertaking to match the industry’s varied and changing needs.
Home Builders Institute (HBI), a national nonprofit that trains underserved populations, including veterans, transitioning military, high school students and justice-involved youth and adults for careers in the building industry. Ed currently oversees the operations, products and services for HBI and is a second-generation home builder from Bloomington, Illinois.
In addition, Ed has served 12 years as Independent Director of the Chicago Federal Home Loan Bank, working with leading experts to advance the nation’s housing policy and has also served as a senior officer with the National Association of Home Builders (NAHB) and as the 2016 chairman of its board of directors.
In this episode of the
Tim Faller Show, Tim and Steve explore some of the more technical aspects of
the remodeling and building industries. In this case, we take a closer look at
moisture control and bring in an industry veteran and well-known speaker, Bill
Robinson out of New Orleans, Louisiana.
Bill is a nationally known construction trainer and presenter. He has demonstrated the proper use of building products in many parts of the country and at dozens of trade shows. Bill’s overarching message is understanding, detailing, and managing the building envelope and you can learn more about him and his business here.
As the world battles through the COVID-19 Pandemic, one theme is constant throughout North America; “How do we Recover?” Every area is effected differently and each remodeling company must look at the next 6-8 months and plan accordingly.
This month’s webinar features Tim and Doug Howard, taking a closer look at positioning your business to succeed and hitting the ground running as we all emerge from this disruption in the market.
This webinar will be a dual-presentation; first Doug will address the business side and then Tim will handle the challenges faced on the production side. Click Here for More Information and Registration >>
In this episode, Tim and Steve cover the Customer Experience. Creating a positive feeling in your clients can not only make the project successful but more importantly, leads to referrals which we all know is the “lifeblood” for any successful remodeler.
No one knows the concept of Client Experience tracking more than our friends at GuildQuality so we have Gavin MacDonald join the conversation for this episode.
Gavin is the Sales Director at GuildQuality, a software company based in Atlanta, Ga that specializes in measuring client satisfaction for contractors. He has been working with small business owners ever since he started his own marketing automation company in college and has been involved in the software space ever since. In addition to running the sales team at GuildQuality, Gavin often travels to speak at various conferences to educate contractors on the importance of being customer-centric.
Tim, Steve and Gavin talk more about:
Why it’s so important to have a customer-centric business in 2020.
What are some things a company can do to make their business more “customer-centric”?
How do reviews play a role in growing a business?
How do you recommend dealing with negative reviews?
This month’s webinar features Doug Howard and Tim Faller taking a closer look at positioning your business to succeed and hitting the ground running as we all emerge from this disruption in the market. Join us on Tuesday, May 19th for this FREE Webinar. Click Here to Learn More and Reserve Your Seat >>
To celebrate this milestone, we’re changing up the format, turning the tables and featuring our Host, Tim Faller!
In this episode of the Tim Faller Show, Steve interviews his
co-host and explores Tim’s background as a lead carpenter, business owner and
his transition to a trusted advisor and sought-after industry “guru.”
Steve and Tim discuss:
Shifts in the industry, from 1-2 person operations to larger design/build firms we see today.
The birth of the lead carpenter system and its evolution.
Common issues and challenges that Tim sees in working with Remodelers in the US & Canada.
Finding good help and building an awesome production team.
A few items that Steve and Tim reference in this episode:
As he’s stated many times, Tim wants to see punch lists eliminated completely. The punch list can be an invitation for clients to find fault for remodelers. In new home building, there’s a part of the budget set aside to take care of the punch list. It can be a drain on profits.
Usually.
Derek Stone built a business, in part, by completing punch lists and warranty work for other building companies.
In this episode, Derek talks to Tim and Steve about a different side of the building business, and how his systems and training can help your remodeling company.
Derek is the CEO of Stone’s Repair and Remodel in Nashville, TN. Derek started his company as a one-man show in 2011. After working 80 hours a week, for three years, and missing his family, he learned the principle of leverage. He hired his first subcontractor, and within the next nine months, he hired 10. In 2017, he had over 28 subs punching houses for 14 different builders. In those three short years, he went from $68,000 in revenue to 1.2 million.
About 60 percent of Derek’s business is punch list and warranty work, primarily for new tract home builders. His company also does pressure washing and screen enclosures. He says he’s personally done about 7,000 houses himself. He contracts with local building companies to complete the work. Derek talks about his slice of the building and remodeling business, as well as his approach to systems and training, including:
How long it takes
Scheduling his subcontractors
What he learned from Chik-fil-A
Creating replicable systems
Training for skill sets
Maximizing efficiency
Working strategically with partners
His profit-sharing plan
And more …
If you or your team would like to see examples of his training approach for his sub-contractors, Derek has videos on his YouTube channel.
Did You Miss Build Aid?
Did you miss it? Thousands of remodelers, builders and industry professionals attended the Live, two-day virtual conference and got to hear 20+ speakers share tips, advice and strategies on “surviving and thriving” during these challenging times…
But we have Good News… We are keeping the Virtual Event Center open for a few weeks so you can access the recorded sessions and visit with the sponsors and partners that made it all possible. Visit https://buildaid.live/ to learn more.
Editor’s note: We’re all working remotely, away from the podcasting studio, so we’ve dug into the virtual vault to bring you this episode. With so many projects on hold due to Covid-19 emergency orders, take some time to get your systems and processes ready for better days.
Developing a system that makes your kitchen and bath jobs more profitable has to include getting those all-important selections done early in the process — before the job even starts.
In this episode, Tanya Donahue discusses that process with Tim and Steve, and why it results in exceptional client experiences, and make everyone in the company happy and more productive.
Tanya is the president of Rhode Island Kitchen and Bath, and provides her team and her clients with proven strategic capabilities, backed by her strong record of success. She’s spent more than 25 years in the home building and remodeling industry, and her main focus is to create, communicate, and implement the organization’s vision, mission, and overall direction. Tanya is a member of the Rhode Island Builders Association, served as co-chair of the Remodeler’s Committee and is a former member of the board of directors. She was selected as a 2017 Industry panelist for Harvard University’s Joint Center on Housing Studies, and was a judge of the 2018 National Qualified Remodeler Design Awards. She was also the recipient of the 2017 ProRemodeler Extreme Sales Award.
At the company, when a job packet goes to production from sales, it has every selection made, right down to the color and manufacturer of the caulk to be used. So much money is lost when something is missing on the job. If your company isn’t doing it this way, Tanya says, it may seem overwhelming, but she tells you how to get your organization on board with making selections before the job starts, including:
Making the client the boss, sort of
Getting buy-in from sales and design
How it increases productivity in design and sales
Including photos in the job packet for easy identification on site
Starting with the must-haves
Controlling the client through education in the process
Figuring out how clients make decisions
Why cabinets can drive their start date
Starting with a reservation form, and using it as a reality check on the schedule
The power of the visual production board
How to do it without a showroom
And more …
Integrating sales and production in a continuous communication loop from start to finish is key to the whole process.
Don’t Miss Build Aid on April 1-2…
We want to give back to an industry that has supported us through good times and bad, and so we’ve created Build Aid, a FREE, two-day virtual event to help support our members, associates, and friends in the remodeling community.
Join us on April 1-2 as we explore various ways your business can navigate these tough times, and position yourselves as a leader when the world begins to recover and re-build. Click Here for more information & registration
Training to help move team members up the ladder is important to any remodeling company and its ability to move fast and make money.
Chris Peterson has seen the importance of training from his first days in the field as a carpenter through to his present leadership position. He says it’s a concrete way to coach and promote great people from the ground up.
In this episode, Chris explains his company’s training methods to Tim and Steve, and shows you how to create your own education program.
Chris is a co-owner and vice-president of production at Schloegel Design Remodel in Kansas City, MO. Chris has been with the company for more than 23 years. He started in the field as a carpenter and progressed to lead carpenter, project manager, and production manager. In 2018, he purchased the business with his partner, Charlie Schloegel. He’s seen the need for better training from many angles.
There’s a real connection between emphasizing training and successful financial growth, says Chris. His company has started Schloegel University, which is in its initial growth phase. Some of the training is after hours on a volunteer basis, and there are mandatory meetings. Chris explains why making it cross-functional with classes that include field and office staff is important, as well as:
Reactionary vs. proactive training
Explaining how quality ties into profitability
How much to spend on training
Structuring a training program
Understanding education is already happening
Setting standards so things are done the same way, every time
Putting the responsibility on the learner
Creating enthusiasm around the process
And more …
Dedicating the time to training, even if it’s informal, will help your people be successful, leading to better quality and more jobs for your company, says Chris.
If you’ve ever had to deal with legal action in your remodeling business, you know it can be a nightmare. The best thing you can do is to keep you and your projects out of the legal system.
Dennis Dixon has used his experience as an expert witness and investigator to help business owners understand the link between the legal system and the health of their business.
In this episode, Dennis talks to Tim and Steve about how to keep you and your projects out of the legal system through preventative measures, management, and oversight.
Dennis is a 35-year veteran author, builder, and consultant, and is the president of Dixon Ventures in Flagstaff, AZ. His book, Finding Hidden Profits contains proven management, policy, and contract content solutions to keep any construction or design pro in the profit stream.
His entry into the legal system began 25 years ago, when lawyers would ask him to investigate projects that were the subjects of lawsuits. Dennis says about 75 percent of these disputes arose from mishandled change orders, with the underlying causes of poor documentation and communication. He talks about how to help keep your company out of legal trouble, including:
Getting everything in writing
The problem with allowances
Why you need good planning and specs
A-to-Z documentation
Asking how clients will use a space to get a deeper understanding
Resolving disputes before taking any legal steps
When to take the hit on a change order
The power of a real letter, not an email
Taking emotion out of the process
Addressing dispute resolution in your contracts
How to prepare for arbitration or a lawsuit
Why the party with the most paperwork wins
And more …
Maintaining good communication with clients will help head off disputes — and that includes the hiccups and problems too. Being transparent and documenting everything is the key to avoiding legal trouble.
